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Schneider Electric issued a statement denying it had planned to buy U.S. conglomerate Tyco International, but this did little to kill the buyout talks as a source with knowledge of the matter said the French engineering group held earlier talks with Tyco. Shares of Schneider initially rose more than 2 percent after the denial but dropped after analysts made comments speculating a tie-up may be coming soon, and is expected to weigh on shares in the long term.